Issue link: https://read.dmtmag.com/i/117828
26 ��� APRIL 2013 ��� WORLD FENCE NEWS The ���customer satisfaction��� collections process continued from page 24 what you do, they are bad people and will not pay unless forced to by law. Be prepared to go to battle with them by documentation and timely fil- ing of liens. If the collection procedures have not been successful after 90 days, the account should be brought again to the owner���s or president���s attention. At this time a decision must be made as to how long the account can be left open before being turned over THE SKY���S THE LIMIT ECGO Cell Phone Entry System O C ll Ph l E t S t FEATURES: No cell contract needed. Clear voice technology. Weatherproof Stainless Steel. Rings up to 3 administrators in sequence. to a collections agency or attorney for collection. No longer than 120 days is suggested. When all other collection efforts have failed, a formal letter should be sent to the customer. Here, you are serving formal notice that unless payment is received within a predetermined number of days, the account will be turned over to the collection agency/attorney or a ���replevin action,��� sometimes known as ���claim and delivery��� for repossession will be issued. Liens can be the best friend of the reputable fence contractor; know your rights and use them. It should be noted that whatever decision has been made at this time, it must be followed through. That includes the repo weapon, which is very powerful. Repossessing a fence is unlike repossessing nearly any other possession. A car or appliance could be said to be ���out for repair��� to avoid humil- If first number is not answered calls will forward to next number on list. FASTENER CAPS Program up to 100 users to access the gate. for the fence industry Works with mobile and land lines. Answer visitors call no matter where you are. ALL TYPES Gate is able to be latched/unlatched via cell phone. Snap-Caps, Tap Caps, Kappets, Hex-Caps, Hinge Caps For use with all gate automation systems. No trenching for phone lines. UR VISIT OBSITE E NEW W m O.co myECG Get This and Many Other Innovative Products from East Coast Gate Operators, Inc. 704.768.2230 Interested in becoming an ECGO distributor... Please call us! All colors and sizes available in small or large quantities Easy to order through PRO-DEC.COM Check us out! iation, but a fence repossession is unmistakable and will leave an indelible mark of shame on the homeowner, a mark that most people will do anything to avoid. Without a doubt, collections are among the most important cornerstones in the standard operating procedures for fence contractors. If you don���t get paid, you go out of business, just that simple. A well placed, timely customer satisfaction call can head off a majority of your collections problems, and maintaining that protocol for all future collections will alleviate probably more than 90% of all collections issues. Accounts receivable collections are just as important as gross revenues. Collections need to be done on a daily basis, not only when cash flow is poor as a last resort to produce extra cash. Don���t delay, collect today!!! The maintenance of an up-to-date and accurate list of accounts receivable and a strong collection procedure with daily follow-ups is one of the most important tasks of the accounting department. Prompt collection of money due is the operative phrase; if you wait and/or put off collections procedures for any reason, you run a very high risk of not getting paid for your hard work and materials at all. Statistics show that the older an account becomes, the greater the risk of not collecting. As a last resort, it is always more desirable to get a commitment from a customer to make regular payments, even in fairly small amounts, rather than have to pursue other collection methods. But you will not get anything if you don���t get to it. Remember, Cash Is King! Collections come down to two choices: persistence vs. procrastination If you are persistent, you will get paid, If you procrastinate, you will go out of business. Tom Luby, Profit Builders International (PBI), has developed the Roadmap to Success program, which offers valuable business information necessary to successfully operate a fencing company. He has conducted business seminars as part of the FENCETECH and Jackpot conventions educational programs. Tom���s entire ���Roadmap to Success��� program is available on CD, along with ���The Close��� and ���The Roadmap to Success��� user manual. Contact Profit Builders International at 3421 10th Lane West, Palmetto, Florida 33221. Office phone 941-981-3677, cell 941807-7666, fax 941-981-3677. Also visit www.profitbuilder.org.